211 Belvidere St E

Duplex · 2 units: 4 bed / 2 bath ×2 unit split estimated · 4,092 sq ft

Saint Paul, MN · West Side (Cherokee Heights, District del Sol) · View the listing ↗

25 photos

Photos courtesy of Exp Realty - Broker, via Realtor.com.

Asking price: $469,900
Monthly cash flow: −$128
Estimated rent: $4,750/mo
Break-even price: $445,900

Adjust the numbers See the full breakdown

From the listing

Rare 2017-built duplex on Saint Paul's West Side - one of the newest duplexes you'll find in this market. Each unit is 4BD/2BA with over 1,200 sq ft, offering tenants and owner occupants the space and modern finishes that drive strong rental demand. Up/down configuration with separate entrances means true privacy between units. Built in 2017, so you're getting modern mechanicals, updated electrical, newer roof, and energy-efficient windows - a meaningful advantage over the aging duplex stock that dominates this corridor. Easy access to downtown Saint Paul, the West Side bluffs, and major employment centers. Live in one unit and let the other offset your mortgage, or hold both as a straightforward cash-flowing investment. Newer construction at this unit size and price point is hard to find - don't wait on this one. Multiple down payment assistance programs are available. Schedule a showing today!

Listing courtesy of Exp Realty - Broker (Herman Antonov | Top 5% Twin Cities Realtor ). Description from Realtor.com, MLS #7149456. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 2017 up/down duplex with 4-bed/2-bath units, and the numbers are close but still don't work at $469,900. Our underwriting shows about -$128/month and a 6.1% cap rate, and cash flow only breaks even near $445,900. Rents are the issue: we estimate about $2,375 per unit for a 4-bed, and that still can't quite carry a price near $470K with $9,828 in taxes. The listing gives no rents, no lease terms and no utility details, so ask for the rent roll first. Also check why the rental license is still pending and why it's a grade C. It only makes sense for a showing if the seller will come down some or you plan to live in one unit.

Things to consider

Price is above what the rents support We estimate about -$128/month at asking and a 6.1% cap rate. Break-even is around $445,900, so a deal needs a modest discount or an owner-occupant plan.
Rents are unverified The listing gives no rents or lease terms, so all income is our estimate, around $2,375 per 4-bed unit.
Heavy property tax bill Taxes of $9,828 plus $1,690 in assessments eat into income, and the bill is non-homestead.
Newer construction lowers repair risk A 2017 build should mean fewer big-ticket repairs soon. Still verify the roof, HVAC and wiring, since the listing's claims are general.Listing says: “Built in 2017, so you're getting modern mechanicals”
Licensing and inspection status A pending license and a C grade could mean repair orders or delays in renting legally.
Room to negotiate Nine days on market is short, but the seller's tiny cost basis gives them room to cut.

From the photos

Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

Condition and repairs

doneNewer roofListing says: modern mechanicals, updated electrical, newer roof, and energy-efficient windows
doneUpdated electricalListing says: modern mechanicals, updated electrical, newer roof, and energy-efficient windows

AI-assisted first read of the listing description and photos (Claude), checked against public records. Every rent and repair above quotes the listing; verify with the agent, leases and an inspection.

The numbers

Edit rents, costs and assumptions

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

The deal

Price: $469,900
Cash to close: $108,077
Price per unit: $234,950
GRM: 8.2

Each month

Cash flow: −$128/mo
Cash-on-cash: −1.4%
Cap rate: 6.1%
DSCR: 0.95×

Break-even

Price that breaks even: $445,900
Rent that breaks even: $4,916/mo

Long run

Year 30: property vs stocks: $1.83M vs $839K
Cash flow turns positive: year 3

Monthly

Monthly breakdown

Rent	$4,750
Vacancy (6%)	−$285
Collected	$4,465
Property tax Public record	−$819
Insurance Estimate	−$235
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$428
Capital reserve (8% of rent)	−$380
Net operating income	$2,373
Mortgage (principal + interest)	−$2,501
Cash flow	−$128
Principal paid down (equity, not cash)	$318

Cash flow each year

Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.

30 years

How those totals add up

If you buy this building$1,826,449

Your equity when you sell: $1,072,137
Rental profits, invested at 7%: $754,313

Same money in stocks$838,638

Cash to close, invested at 7%: $822,710
Monthly shortfalls, invested: $15,929

The building comes out $987,811 ahead after 30 years.

Future dollars. At 3% inflation, divide year-30 figures by about 2.4 for today's buying power. Rental profits are assumed invested, not spent.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $1.83M, stocks $839K. The property wins.

Comparable rentals

Nearby rentals RentCast matched to each unit type, as of 2026-10-05. The estimate above is RentCast's, weighted toward the closest matches.

4 bed / 2 bath estimate $2,375/mo · range $2,175–$2,600

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
385 Clinton Ave, Saint Paul 55107 off market	$2,495	4 / 2	2,176	0.8 mi	2026-01-31	88%
282/284 Page St E, Saint Paul 55107 off market	$1,700	3 / 1.5	—	0.2 mi	2026-03-07	82%
592 Ottawa Ave, Unit 2, Saint Paul 55107 off market	$2,300	4 / 1	2,000	1.3 mi	2022-08-07	81%
61 Delos St, Apt W4, Saint Paul 55107	$1,750	4 / 1	1,400	1.0 mi	2026-10-05	78%
61 Delos St, Apt W3, Saint Paul 55107 off market	$1,895	4 / 1	1,400	1.0 mi	2026-09-02	78%
61 Delos St W, Apt 3, Saint Paul 55107 off market	$2,000	4 / 1	1,400	1.0 mi	2026-06-28	78%
61 Delos St W, Apt 4, Saint Paul 55107 off market	$2,000	4 / 1	1,400	1.0 mi	2026-06-28	78%
294 Winifred St E, Saint Paul 55107 off market	$1,995	4 / 1	1,100	0.5 mi	2026-04-01	77%
294 Winifred St E, Unit 1, Saint Paul 55107 off market	$1,995	4 / 1	1,100	0.5 mi	2026-06-04	77%
152 Winifred St W, Unit 2, Saint Paul 55107 off market	$2,050	3 / 2	1,400	1.0 mi	2026-06-13	73%

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: RentCast. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

highTaxes are very high for the rents: $9,828 on a non-homestead bill Based on: data: county.tax · AI review
mediumFire-inspection grade C: more deficiencies than typical; expect more frequent inspections and repair orders. Public record: St. Paul Certificate of Occupancy – Residential: 211 BELVIDERE ST E, grade/tier=C, status=Pending
medium$1,690 in special assessments on the payable 2026 tax bill (often street, sewer or code-enforcement charges). Ask what they're for, whether they continue, and whether the seller pays them off at closing. Public record: Ramsey County parcel 082822340186: special assessments (payable 2026) = $1,690.20
mediumRental license shows Pending with an expired date and a C grade. Confirm the unit is licensed and what the inspection found. Based on: data: city.rental_license · AI review
mediumListing is pitched at owner-occupants and down payment assistance. Rents aren't stated, so income is unverified. Listing says: Live in one unit and let the other offset your mortgage · AI review
lowPhotos show a tenant-occupied unit with belongings, so the unit is likely occupied. Lease terms are unknown. Based on: photo 9 · AI review

Opportunities

The seller bought for $5,600 in Apr 2011, so they can take a lower offer and still come out well ahead. Public record: Ramsey County parcel 082822340186: last sale 2011-04-06, $5,600
Long time on market: room to negotiate. Based on: Listing data: 12 days on market, 2 price cuts
2017 build means newer systems and likely lower near-term capital needs than the older stock nearby. Listing says: Built in 2017, so you're getting modern mechanicals · AI review
Built after 2004, so St. Paul's rent cap likely doesn't apply, though the first CofO date needs confirming. Based on: data: underwriting.rent_rule · AI review
Seller paid very little for the property and may accept a much lower offer. Based on: data: county.last_sale_price · AI review

Questions for the agent

What are the current rents, lease end dates and deposits for each unit?
Which utilities does the owner pay, and is there one meter or separate meters per unit?
Why is the rental license pending and why was it graded C? Can you share the last inspection report?
What are the $1,690 in special assessments for, and will the seller pay them at closing?
What is the roof's actual age, and what is the heating/cooling setup for each unit?
Is the seller open to a price near $323K, given how long it has been listed?

Bottom line

Nice newer building, but at $469,900 the rents fall just short; it's roughly $24K above break-even. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead)	$9,828
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,823
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$170
Heat / mo Assumptionassumption. tenants pay heat; confirm with the agent	$0
Lawn care / mo Assumptionassumption. $120/mo for 6 months, spread over 12; no snow removal	$60
Repairs / capital reserve Rulerule. 8 bedrooms: +1 pt repairs for wear	9% / 8%

Price history Realtor.com

On the market since 2026-08-27 (39 days); down $45,100 (8.8%) from the first ask of $515,000; last sold for $125,000 on 2005-11-14; listed for rent at $5,995/mo on 2011-01-12.

Date	Event	Price
2026-09-23	Listed	$469,900
2026-09-21	Removed	$475,000
2026-08-27	Listed	$475,000
2026-08-27	Removed	$515,000
2011-06-13	Rental removed	$6,650/mo
2011-06-10	Rental removed	$5,995/mo
2011-01-12	Rent changed	$5,995/mo
2010-12-14	Rent changed	$6,000/mo
2010-10-12	Listed for rent	$6,650/mo
2009-11-18	Listed for rent	$6,900/mo
2009-05-10	Removed	$37,050
2008-12-08	Listed	$37,050
2005-11-14	Sold public record	$125,000
2002-11-15	Sold public record	$159,900
1994-08-30	Sold public record	$33,000

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	2017
Market value (2026)	$477,800
Property tax, payable 2026	$9,828
Special assessments	$1,690
Homestead	no
Last sale	2011-04-06 · $5,600

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), C, status pending, renews 2025-11-21.

Nearest highway

US 52, about 708 m away.

Crime in West Side

708 incidents in the last 12 months (45 per 1,000 residents), −17% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.